Small Wind Power Global Market – Overview
Small Wind Power also known as Small Wind Energy refers to the sustainable energy/electricity or power generation with the comparatively smaller Wind Turbines/ Mills. Growing world population and increasing higher standards of living define the rising demand for the renewable and sustainable energy generation with low CO2 emissions and low waste and Small Wind Power makes a good choice for renewable/sustainable energy generation. Due to which currently the demand for Small Wind Power is rising on the global platform and along with it is growing the Global Small Wind Power Market.
Accrediting the kind of traction the Small Wind Power market is generating currently, owing to the rising demand for the sustainable/ alternative energy generation which will further convert the market in to a vastly expanded place in the years to come; the Market Research Future has recently published a brilliant study report giving out the complete market prognosis up to 2023. In which the MRFR asserts that the global Small Wind Power market will perceive a momentous growth by 2023, registering a a whooping, double digit growth rate over 18% during 2016-2023.
Increasing consumer awareness towards the use of renewable energy sources has predominantly fostered the global Small Wind Power market growth generating the vast pool of market opportunities across the world. Additionally, augmented demand for renewable sources for energy generation coupled with the burgeoning industrialization fuels growth of the global Small Wind Power market. The Small Wind Power market is also fascinating the government bodies worldwide owing to the cost effective output; encouraging them to invest significantly to improve electricity generation by integrating renewable sources of energy, such as wind energy. Government offers funds and soft loans, for small private wind farms from 100KW to 500KW that have accelerated depreciation and power purchase scheme; this further boosts the global Small Wind Power market growth. Other factors that provide impetus to the Small Wind Power market growth include the rising demand for energy and increase in concerns about the environmental impacts of power generation using fossil fuels coupled with the increasing demand for clean and reliable energy in order to reduce the global carbon emissions and to maintain ecological balance by generating electricity through renewable resources.
On the other hand inconsistent yielding of constant power output can hinder the small wind power market however cost effectiveness of the wind energy coupled with the emerging technological advancements are expected to ease the perspective towards Small Wind Power supporting the market growth of Small Wind Power.
Small Wind Power is generated with the wind turbines that are smaller up to 10 meters rotor diameter and 30 feet tall & gives the output of rated power up to 20 kW at 11 m/s, or 25 mph. When the surface of the earth gets heated up due to the shining Sun, these small wind turbines use this asymmetrical heat and convert the kinetic energy in winds that whirls the blades of wind mill/ turbine, a rotor captures the kinetic energy of the wind and converts it into rotating motion to drive the generator.
Small Wind Power generated by these small turbines offers the most economical home-based renewable energy systems with zero emissions and pollution. Energy generated with such Small Wind Power provides uninterruptible power supplies ride through extended utility outages and supports lowering the electricity bills by almost 90% eliminating the need of the high costs required for having utility power lines extended to a remote location. The small wind turbine system can be connected to the electric grid through the power provider or it can stand alone i.e. off-grid to power up rural areas that are not already connected to the electric grid, Street lights, farms, water pumping, sailing boats, Traffic signals & sign boards, industries and so on.
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Northern Power Systems Inc. (U.S), Kingspan Group PLC (Ireland), Xzeres Wind Corporation (U.S), Wind Energy Solutions (Netherlands), Bergey Windpower Co. Inc. (U.S), Guangzhou HY Energy Technology Limited Corp. (China), Eocycle Technologies Inc. (Canada), Endurance Wind Power Inc. (Canada), Shanghai Ghrepower Green Energy Co., Ltd. (China) and ZKEnergy Science & Technology Co., Ltd. (China) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Small Wind Power Market.
Small Wind Power Global Market – Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of Small Wind Power appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. Small Wind Power market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further.
Industry/ Innovation/ Related News
November 20, 2017 – CGE Energy (US) unveiled its WIND-e20 by making further advancements in multiple aspects of the development of their flagship, a vertical-axis wind turbine. The 105-foot WIND-e20 generates clean power on-site and is the world’s only turbine that can be installed, maintained and removed without a crane and its blades even collapse in storms all feats that help clear barriers for sustainable energy. The proposed legislation would reinstate the renewable energy tax credit for small wind energy projects, proposed tax reform legislation were released just earlier Nov.2017 providing for massive alterations to tax law.
December 07, 2017 – During the Intersolar India Exhibition and Conference at the Bombay Exhibition Centre, Mumbai, revealed were the India’s planned growth in to the field of renewable energy stating that the India is at the vanguard of the world’s rapid transformation to smart energy. The Ministry of New and Renewable Energy is driving clean energy at an unprecedented rate, while India’s energy consumption is set to double over the next 6-7 years. The Government of India has set itself a highly ambitious task of having installed 175 GW of green energy by 2022. The target includes 60 GW from wind and 100 GW from solar, whereas the latter is split into 60 GW ground-mounted and 40 GW of rooftop. This news further estimates the growth of small wind power market in India
Small Wind Power Market – Segmentation
Global Small Wind Power Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Type : Comprises – Horizontal Axis Wind Turbine and Vertical Axis Wind Turbine and others.
Segmentation By Application : Comprises – On-Grid and Off-Grid.
Segmentation By Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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Small Wind Power Market – Regional Analysis
The North-American region is currently the leading in small wind power market and is followed by Asia and Europe. The growth f North-American market is attributing to the technological advancements, whereas, the growth of Asia Pacific market is due to the augmented industrialization coupled with the availability of natural resources such as ample sunlight etc.
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